CF Holding Co. Inc. and its subsidiaries — Caldwell Freight Lines, Foothills Trucking and Prime Time Delivery & Transport — have announced that Harbert Private Equity Fund II, a private equity fund, recently acquired a majority interest in CF.
HPEFII is sponsored by Harbert Management Corp., an investment management firm focusing on alternative assets with more than $5.5 billion in assets and committed capital under management. CF expects its relationship with HPEFII to facilitate opportunities for growth.
“We are excited about the new relationship with HPEFII because it provides us access to additional capital for growth as well as seasoned business professionals to assist us in our growth plan,” says Dave Brenner, CF’s chairman and chief executive officer. ” Our company has had a history of substantial growth in the past, and we look forward to continuing that tradition with the help of HPEFII.”
CF is the nation’s largest less-than-truckload carrier that focuses exclusively on transporting furniture. Through its three divisions, CF serves the entire continental United States. CF collectively operates seven trucking terminals in Lenoir, Thomasville, and Newton, N.C.; Martinsville, Va.; Corinth, Miss.; Phoenix; and Riverside, Calif. Brenner and management will retain their current positions with CF.
HMC serves foundations, endowments, funds of funds, pension funds, financial institutions, insurance companies, family offices and high-net-worth individuals. HMC, headquartered in Birmingham, Ala., maintains other offices in New York City; Richmond, Va.; Nashville, Tenn.; and London, England.
